Carrefour: Sales Growth in the Second Quarter of 1.3% at Constant Exchange Rates

  Carrefour: Sales Growth in the Second Quarter of 1.3% at Constant Exchange
  Rates

                  Sales growth in France ex. calendar impact

                      Growth in Latin America and China

Business Wire

BOULOGNE-BILLANCOURT, France -- July 18, 2013

Regulatory News:

Carrefour (Paris:CA):

Q2 2013 consolidated sales inc. VAT: €20.5bn, up 1.3% at constant exchange
rates; ex. calendar and ex. petrol, organic growth of 2.2%. The continued
depreciation of the Brazilian and Argentine currencies had a negative impact
of 1.9% over the quarter.

  *France: Ex. calendar sales up 1.3%; broadly flat on a reported basis
    (-0.2%). In a challenging environment and despite adverse weather
    conditions, hypermarkets continued to recover. Other formats performed
    well.
  *International: Sales up 2.6% at constant exchange rates and organic growth
    of 2.3%. Sales in Southern Europe remained difficult. Continued growth in
    Latin America, and resumption of growth in China.

H1 2013 consolidated sales inc. VAT: €41.0bn, up 1.3% at constant exchange
rates; ex. calendar and ex. petrol, organic growth of 2.1%.

Second quarter 2013 sales inc. VAT^1

                                                                                               Change
                                                                                               at            Change
                                 Change at                      Change at                      current       ex.
                                 constant exch. rates           constant exch. rates           exch.         petrol
                          inc. petrol                 ex. petrol                  rates      ex.
                    €m                                                                         inc.          calendar
                                                                                             petrol
                                                                                                             
                                                                                               
                                 LFL    Organic   Total       LFL    Organic   Total       Total         Organic
                                         growth^2                       growth^2                             growth^2
                                                                                                
France              9,654        -0.6%  -0.2%     -0.2%       -1.1%  -0.2%     -0.2%       -0.2%         +1.3%
International       10,806       +0.9%  +2.3%     +2.6%       +0.8%  +2.2%     +2.6%       -1.0%         +2.7%
Total Group         20,460       +0.2%  +1.1%     +1.3%       0.0%   +1.3%     +1.4%       -0.6%         +2.2%

First half 2013 sales inc. VAT^1

                                                                                             Change
                                                                                             at
                                 Change at                     Change at                     current       Change
                                                                                             exch.         ex.
                          constant exch. rates       constant exch. rates       rates      petrol
                    €m           inc. petrol                   ex. petrol                    inc.          ex.
                                                                                             petrol        calendar

                                                                                             
                                 LFL    Organic  Total       LFL    Organic  Total       Total         Organic
                                         growth²                       growth²                             growth^2
                                                                                              
France              18,968       -0.6%  -0.4%    -0.4%       -1.3%  -0.6%    -0.6%       -0.4%         +0.7%
International       22,048       +1.1%  +2.6%    +2.8%       +1.0%   +2.5%     +2.8%       -1.4%         +2.9%
Total Group         41,016       +0.3%  +1.2%    +1.3%       +0.1%   +1.3%     +1.4%       -1.0%         +2.1%

Sales under banners

Total sales under banners^3 including petrol for Q2 2013 stood at €24.3bn, up
0.6% at constant exchange rates (-1.1% at current exchange rates). In H1 2013,
total sales under banners was €48.6bn, up 0.6% at constant exchange rates
(-1.3% at current exchange rates).

FRANCE

Second quarter 2013 sales inc. VAT

                                                                                             Change ex.
                         Change inc. petrol          Change ex. petrol           petrol
                   €m                                                                        ex.calendar
                               LFL    Organic   Total       LFL    Organic   Total       Organic
                                       growth^4                       growth^4               growth^4
                                                                                 
Hypermarkets       5,202       -1.2%  -0.5%     -0.5%       -1.1%  -0.4%     -0.4%       +1.2%
Supermarkets       3,276       -0.8%   -1.4%      -1.4%       -1.8%   -1.4%      -1.4%       -0.1%
Convenience
and other          1,176       +3.0%  +4.8%     +4.8%       +0.8%  +3.6%     +3.6%       +4.6%
formats
France             9,654       -0.6%  -0.2%     -0.2%       -1.1%  -0.2%     -0.2%       +1.3%

Organic sales in France were up 1.3% excluding the negative calendar impact
estimated at -1.5%; they were broadly stable at -0.2% on a reported basis, in
a context marked by unfavorable weather conditions. The impact of petrol sales
on overall sales growth is broadly neutral this quarter.

Excluding the calendar impact, organic sales at Hypermarkets were up 1.2%
excluding petrol and up 1.1% including petrol. On a reported basis, they were
down 0.5% (-0.4% ex. petrol). Food sales continued to grow this quarter.

Excluding the calendar impact, organic sales at Supermarkets were stable at
-0.1%, both including and excluding petrol. On a reported basis, they were
down 1.4% both including and excluding petrol.

Excluding the calendar impact, Convenience and other formats posted organic
sales growth of 4.6% excluding petrol (+5.8% including petrol). On a reported
basis, sales were up 4.8% (+3.6% excluding petrol).

INTERNATIONAL

Second quarter 2013 sales inc. VAT^5

                                                                                                 Change
                                                                                                 at
                                 Change at                       Change at                       current       Change
                                                                                                 exch.         ex.
                          constant exch. rates         constant exch. rates         rates      petrol
                    €m                                                                           inc.          ex.
                                 inc. petrol                     ex. petrol                      petrol        calendar

                                                                                                 
                                 LFL    Organic   Total        LFL    Organic   Total        Total         Organic
                                         growth^6                        growth^6                              growth^6
                                                                                                  
Other
European            5,237        -4.2%  -4.5%     -4.2%        -4.3%  -4.5%     -4.2%        -4.1%         -3.9%
countries
Latin America       3,884        +8.5%   +11.0%     +11.7%       +8.0%   +10.7%     +11.5%       +1.2%         +11.3%
Asia                1,685        -0.1%  +4.2%     +4.2%        -0.1%  +4.2%     +4.2%        +4.3%         +4.4%
International       10,806       +0.9%  +2.3%     +2.6%        +0.8%  +2.2%     +2.6%        -1.0%         +2.7%

The Group’s international sales were up 2.6% at constant exchange rates; ex.
calendar and ex. petrol, organic sales were up 2.7%. Sales in Europe continued
to be impacted by weak consumption, particularly in Southern Europe. Growth
continued in Latin America and sales in Asia returned to growth this quarter.

Other European countries

Organic sales were down 4.5% in Europe in the second quarter. Excluding the
calendar effect estimated at -0.6%, organic sales were down 3.9%. Currencies
had a broadly neutral effect.

Sales in the area were affected by unfavorable weather conditions, which came
on top of the adverse impact on consumption of the economic environment that
Europe has been facing for several quarters. In Italy, organic sales decreased
by 11.2% (-9.9% LFL), and by 0.4% in Belgium (-1.0% LFL). Spain held up better
sequentially this quarter, with a drop in organic sales of 1.7% (-2.6% LFL).

Latin America

Sales were up 11.7% at constant exchange rates in Latin America and organic
sales rose 11.0%. Excluding the calendar effect and excluding petrol, organic
sales were up 11.3%. Currencies had a negative impact of 10.5% this quarter
due to the continued depreciation of the Brazilian real and the Argentine peso
against the euro.

In Brazil, growth remained strong in all formats, with organic sales up 9.5%
(LFL +7.1%). Argentina saw its sales grow by 23.8% at constant exchange rates,
including organic growth of 16.2%, in a regulatory context characterized by
the continuation of a price freeze.

Asia

Excluding the calendar effect, organic sales were up 4.4%.

In China, organic sales grew by 4.6% at constant exchange rates. LFL sales
turned positive with an increase of 0.4% in the quarter. In Taiwan, sales were
up.

H1 2013 SALES^7

                                                                                                 Change
                                                                                                 at            Change
                                 Change at                       Change at                       current
                                                                                                 exch.         ex.
                          constant exch. rates         constant exch. rates         rates      petrol
                    €m                                                                           inc.          ex.
                                 inc. petrol                     ex. petrol                      petrol        calendar

                                                                                                 
                                 LFL    Organic   Total        LFL    Organic   Total        Total         Organic
                                         growth^8                        growth^8                              growth^8
                                                                                                  
Hypermarkets        10,267       -1.6%  -1.2%     -1.2%        -2.0%  -1.5%     -1.5%        -1.2%         0.0%
Supermarkets        6,454        -0.4%   -1.0%      -1.0%        -1.2%   -0.7%      -0.7%        -1.0%         +0.3%
Convenience &       2,247        +3.9%  +5.1%     +5.1%        +2.1%  +4.1%     +4.1%        +5.1%         +5.2%
other formats
Total France        18,968       -0.6%  -0.4%     -0.4%        -1.3%  -0.6%     -0.6%        -0.4%         +0.7%
                                                                                                                        
Other
European            10,389       -4.1%   -4.3%      -4.1%        -4.1%   -4.4%      -4.1%        -4.0%         -3.8%
countries
Latin America       7,852        +9.9%   +12.5%     +12.8%       +9.6%   +12.4%     +12.8%       +0.5%         +12.9%
Asia                3,807        -2.3%  +1.9%     +1.9%        -2.3%  +1.9%     +1.9%        +2.1%         +1.6%
International       22,048       +1.1%  +2.6%     +2.8%        +1.0%  +2.5%     +2.8%        -1.4%         +2.9%
                                                                                                                        
Group               41,016       +0.3%  +1.2%     +1.3%        +0.1%  +1.3%     +1.4%        -1.0%         +2.1%

EXPANSION UNDER BANNERS – Q2 2013

In Q2 2013, we opened or acquired 79,000 gross m² (108,000 m² in H1). Net of
disposals or closures, the network added 24000 m² (45000 m² in H1).

                             Openings/                   Closures/                         Total  
                                                                                                     Q2
            31           31       Store                         Store                                2013     30
            Dec.         March                                                                                June
Thousands  2012      2013    enlargements  Acquisitions  reductions  Transfers  Disposals  change  2013
of m²
                                                                                          
France     5,075     5,060   8             1             -4                    -4         1       5,061
Europe
(ex.       5,629     5,621   26                         -34         -1                   -9      5,613
France)
Latin      2,045     2,054   2                                                         2       2,057
America
Asia       2,592     2,604   16                         -13                             4       2,608
Others ^9  608       631     28                         -3                              25      656
Group      15,949    15,970  80            1             -53         -1         -4         24      15,994

STORE NETWORK UNDER BANNERS – Q2 2013

In Q2 2013, Carrefour opened or acquired 178 stores (322 in H1 2013). Net of
disposals and closures, the network grew by 66 stores (108 stores in H1).

No of stores  31     31      Openings  Acquisitions  Closures  Transfers  Disposals  Total   30
               Dec.    March                                                                 Q2       June
             2012   2013                                                       2013    2013
                                                                                             change
                                                                                    
Hypermarkets  1,366  1,373   6                      -4        -1                   1       1,374
France        232    232                                                               232
Europe (ex    457    461     1                      -2        -1                   -2      459
France)
Latin         272    273                                                        0       273
America
Asia          350    352     2                      -2                            0       352
Others ^9     55     55      3                                                   3       58
                                                                                    
Supermarkets  3,454  3,437   19                     -20       1          -2         -2      3,435
France        964    954                                    1          -2         -1      953
Europe (ex    2,176  2,166   10                     -18                           -8      2,158
France)
Latin         168    168                                                        0       168
America
Asia          16     15      2                                                   2       17
Others ^9     130    134     7                      -2                            5       139
                                                                                    
Convenience   5,010  5,053   152       1             -85       0                    68      5,121
France        3,405  3,406   50        1             -38       -1                   12      3,418
Europe (ex    1,370  1,391   85                     -47       1                    39      1,430
France)
Latin         235    256     17                                                  17      273
America
Asia          0      0                                                          0       0
Others ^9     0      0                                                          0       0
                                                                                    
Cash & carry  164    173                           -1                            -1      172
France        140    140                                                        0       140
Europe (ex    14     20                            -1                            -1      19
France)
Asia          4      4                                                          0       4
Others ^9     6      9                                                          0       9
                                                                                    
Group         9,994  10,036  177       1             -110      0          -2         66      10,102
France        4,741  4,732   50        1             -38                 -2         11      4, 743
Europe (ex    4,017  4,038   96                     -68                           28      4,066
France)
Latin         675    697     17                     0                             17      714
America
Asia          370    371     4                      -2                            2       373
Others ^9     191    198     10                     -2                            8       206

                                    AGENDA
                   August 29, 2013: 2013 first-half results

     Variations are pro-forma with activities in Greece, Singapore, Colombia,
^1  Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as
     of Jan. 1, 2012, in accordance with IFRS 5.
^2   LFL sales plus net openings over the past twelve months.
^3   Total sales under banners including sales by franchisees and
     international partnerships
^4   LFL sales plus net openings over the past twelve months.
     Variations are pro-forma with activities in Greece, Singapore, Colombia,
^5   Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as
     of Jan. 1, 2012, in accordance with IFRS 5.
^6   LFL sales plus net openings over the past twelve months.
     Variations are pro-forma with activities in Greece, Singapore, Colombia,
^7   Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as
     of Jan. 1, 2012, in accordance with IFRS 5.
^8   LFL sales plus net openings over the past twelve months.
^9   Maghreb, Middle East and Dominican Republic.

Contact:

Carrefour
Investor Relations:
Réginald Gillet, Alessandra Girolami, Matthew Mellin
+33 (0)1 41 04 26 00
or
Shareholder relations:
Céline Blandineau
Toll free: +33 (0)8 05 90 29 02
or
Group Communications
+33 (0)1 41 04 26 17
 
Press spacebar to pause and continue. Press esc to stop.